Cadila to buy European firm at $80 mn

Gujarat-based Cadila Pharmaceuticals is close to buying an European company that specialises in neurology and opthalmology medicines. The deal, said to be valued at $80 milllion (about Rs 320 crore), will be announced soon.

A Cadila executive said that the acquisition would enhance the company’s marketing capabilities in Europe. This will be Cadila’s second overseas facility. Last month, the company had invested $15 million (about Rs 60 crore) to set up a joint venture facility in Ethiopia.

As a part of its agressive growth plans, Cadila will develop a state-of-the-art medicine production facility at its pharma special economic zone (SEZ) coming up near Ahmedabad.

Read more in The Business Standard article.

Zydus Cadila acquires Brazilian firm Nikkho

Zydus Cadila said on 25 June it has signed an agreement for acquiring 100% stake in the Brazilian firm, Nikkho, to mark its foray into Brazil’s branded generics market.
“Nikkho’s well entrenched presence will help Zydus Cadila in launching ‘branded speciality’ products aggressively across Brazil and enable it to step up the registration process of several molecules,” Zydus Cadila chairman and managing director Pankaj R Patel said in a release.

He said the foray in the branded generics segment is expected to fetch better margins and earnings.The acquisition is being made through Zydus Healthcare Brasil Limitada, a wholly owned subsidiary of Cadila Healthcare but the company, however, did not disclose the investment being made in the process.

Read more in The Livemint article.